Clearing Overdraft

NJO23

I'm currently paying off my student overdraft I have with Natwest.

I'm saving 150 a month into an ISA and paying it off in chunks and today have transferred 450 from my ISA and won't spend 150 quid from this months pay so essentially will have paid off 600. So end of month balance will be 1400 instead of 2000.

Wondering if anyone could help me with a couple of questions.
Will NatWest let me reduce my overdraft as I go along so this month I would get them to reduce it to 1500 leaving a bit of a cushion just in case.

Also I'm just coming into my third year of graduating so pay interest on all the overdraft, the interest is 1.375% per month and 17.8% annually.
Would it be worth me getting a credit card that offers superbalance transfer? For instance the virgin one that is 4% fee but 0% interest. So fee would be £56. To work out whether this would be the right solution would I have to work out exactly what interest I'd pay each month? If so I'm a bit confused on how they do this as obviously I go more into overdraft as month goes on. Any guidance on how to work it out would be appreciated!

I don't want to switch bank accounts as I've tried that before and the mess that happened has put me off for a long time!

Hope this makes sense!

BeautyandtheBeast_3

hi, with my student bank account - as i reduced the overdraft they took down in stages £100 or £50. or the virgin card would be a good one. xx

LeeSouthEast

I think NatWest re-credit check you every time you reduce your overdraft. Be careful with that option!

jennyo

You can reduce your overdraft by letter or in person at the bank anytime you like, however as Leesouthwest says Natwest will recredit check you every time you do, as each one is treated as if you are applying for a new overdraft.